{"id":8808,"date":"2008-12-14T13:21:53","date_gmt":"2008-12-14T19:21:53","guid":{"rendered":"http:\/\/magic1host.com\/blog\/2008\/12\/14\/leasing-office-space\/"},"modified":"2008-12-14T13:21:53","modified_gmt":"2008-12-14T19:21:53","slug":"leasing-office-space","status":"publish","type":"post","link":"https:\/\/magic1host.com\/blog\/?p=8808","title":{"rendered":"Leasing Office Space"},"content":{"rendered":"
by Tom Troccoli<\/div>\n

When the time comes to move your business to a new area or upgrade to a bigger office space, there are a lot of options to consider. First, of course, you have to decide just how much space you’re going to need, especially if your company is quickly growing. A good rule of thumb is to allow at least 150-250 square feet of space for each employee.<\/p>\n

Once you know your size requirements, a big step is deciding whether to buy a new building, or simply lease your office space. Both options have their ups and downs and will take research to make an educated decision. Any decision that could affect your business is a big one, so be sure to take your time and educate yourself on leasing and buying before you decide.<\/p>\n

When you buy your own space, there’s no landlord or stipulations to worry about. The freedom to come and go as you please, make additions as you please, and more can be a wonderful one. Not to mention, your costs are fixed by a mortgage, which also gives you a great tax deduction.<\/p>\n

Buying does have some difficulties associated with it though. You have to be responsible for a big down payment, as well as office equipment, utilities, internet and phone and much more. Your upfront costs include the down payment as well as any moderations that must be done to the building to suit your wants and needs. Also, a sale is final – if you outgrow the building within a year, you’re still stuck with it.<\/p>\n

Flexibility is a big pro in favor of leasing an office space. You can often renegotiate for more space if you grow, or simply move to a new building when your lease is up. There’s also a smaller initial cost associated with leasing your own space. You sign your contract and you pay a set price per month that usually includes typical office services and equipment.<\/p>\n

When you lease an office, you essentially get to hand over the headaches of caring for a property to a landlord. In addition to saving on upfront costs, it can save you time and stress, allowing you to focus more on your work. Also, by leasing rather than buying you can often afford a building in a more upscale and desirable location that may normally be too expensive for you.<\/p>\n

The area your new building in is also a big consideration, especially if you specialize in walk-in customers. A well-cared for building in a good location is going to attract more positive attention than a dilapidated building in the middle of nowhere. However, a good location will cost you, and leasing does usually allow landlords to raise rent if they so choose, so make sure you read your contract carefully.<\/p>\n

Luckily, a commercial lease isn’t written in stone and can be negotiated before the actual signing. Whether to lease or buy your office space is a serious decision, and can have a big effect on your business. The most important thing is do your research and put time into considering the best options for your company.<\/p>\n

\n
About the Author:<\/div>\n
The author, Tom Troccoli<\/a> owns and operates Regency Executive Offices<\/a> in Lancaster, PA. He is a commercial real estate<\/a> professional with executive office suites for sale and lease, as well as an expert on the art of leasing office space. He owns and leases several buildings in the Lancaster area.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

When the time comes to move your business to a new area or upgrade to a bigger office space, there are a lot of options to consider. First, of course, you have to decide just how much space you’re going to need, especially if your company is quickly growing. A good rule of thumb is to allow at least 150-250 square feet of space for each employee.<\/p>\n","protected":false},"author":3457,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[77],"class_list":["post-8808","post","type-post","status-publish","format-standard","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/8808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/3457"}],"replies":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8808"}],"version-history":[{"count":0,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/8808\/revisions"}],"wp:attachment":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}